Get the latest gossip
Shari Redstone to Exit Paramount Board Following Skydance Deal Close
Shari Redstone will leave the Paramount Global board once the media conglom's deal with Skydance Media closes in 2025.
If the NAI/Paramount/Skydance transactions are not completed by April 7, 2025 (subject to two automatic extensions of 90 days each in certain circumstances), Paramount or Skydance may elect to terminate the deal, according to the SEC filing. According to the SEC filing, Skydance’s deal terms provide Redstone and other NAI shareholders “certain indemnification rights” relating to the transactions capped at a maximum of $200 million. Since then, Paramount has engaged in layoffs and restructuring aimed at cutting 15% of its U.S. headcount, as part of efforts to slash $500 million in annual costs.
Or read this on Variety